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Ramalingam Kalirajan |8027 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Jul 30, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more

Question by Kumaravelu on Jul 30, 2024Hindi

Money

Thank you sir for your quick response. As per the recent budget, I understood that the indexation has been removed. Could you please clarify it

Ans: You're absolutely right. That's an important detail I missed.

Since you sold the property on July 24th, 2024, the removal of indexation benefits from Budget 2024 applies to your case. This means you won't be able to adjust the purchase cost for inflation to calculate the capital gains.

Here's how this affects your situation:

Original Purchase Cost: Rs. 29 lakhs
Sale Price: Rs. 29 lakhs
Capital Gains: Since indexation is removed, we simply compare the purchase price and sale price.
In this scenario, you don't have a capital gain or loss because you sold the property for the same price you bought it for.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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IF I BOUGHT PROPERTY IN THE YEAR 1980 AND SELL IN JUNE 2024. WILL I BE ABLE TO TAKE ADVANTAGE OF INDEXATION FOR SELL OF MY PROPERTY, AS IN BUDGET 2024-25 INDEXATION IS REMOVED.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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